US unemployment rate rises sharply: Poll

Americans filling out application forms at a job fair (file photo)

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A new poll shows a sharp rise in the unemployment rate in the US amid grave concerns over the country’s economic status.
The poll, conducted by Gallup, shows that US unemployment rate rose in November to 7.8 percent from 7.0 percent in October.
Telephone interviews with 29,308 Americans were conducted from 1 to 30 of November by Gallup Daily. According to the poll, 67.2 percent of the respondents were active in the workforce.
The rate of part time workers who are seeking full time employment also rose to 9.4 percent in November from 8.9 percent in October.
Underemployment rate, which combines both those who are unemployed with those who are part time workers seeking full time work, was 17.2 percent in November, a 1.3 percent increase compared to October.
Gallup says that the increases could be a result of companies scaling back on holiday hiring.
African-Americans are worst off with a 12.4-percent unemployment rate. A 12-percent unemployment rate was registered among those aged between 18 to 29.
Experts say the country’s economic growth is not likely to get much better for the rest of this year and expect it to grow at a roughly two-percent pace, which is typically too weak to create enough jobs to lower the overall unemployment rate.
CAH/HMV